Housing Finance System for the Future: FHFA Unveils New Representation and Warranty Framework

October 2012
Pratt's Mortgage Compliance Letter;Oct2012, Vol. 12 Issue 10, p6
The article reports that according to the Federal Housing Finance Agency (FHFA), a new representation and warranty framework for conventional loans sold or delivered on or after January 1, 2012 is being launched by Fannie Mae and Freddie Mac. As part of a series of strategic initiatives called seller-servicer contract harmonization, the new rep and warranty framework intends to clarify the repurchase exposure of the lenders, as well as their liability on future deliveries.


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